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Hi,

1) When taking a housing loan from any financial institute, such as a bank. The maximum loan they could provide is 75%. This is mandatory by MAS.
2) The 25% downpayment, 5% must be in cash, and 20% can be cash and/or CPF.
3) You can also utilize funds from CPF for SD & ABSD.
4) The SD for a $630k property is $13,500, and ABSD is $31,500, mortgage stamp duty of $500.
5) You must have cash for the following:
(a) $31,500 for the 5% downpayment. The $5,000 pays to the seller for the option and exercise fees will form part of this 5% downpayment.
(b) $2,200~$2,500 for legal fees
(c) $6,867 (1% + GST) for agent fees if you engage one.
(d) Miscellaneous around $500 (for HDB)

6) If you $200k in your CPF, you can decide the amount of funds to be use for the flat rather than putting all for the flat and get 75% loan from the bank. Note that you have to tell the banker your intention in advance before they generate the Letter of Offer. Regenerate a Letter of Offer will costs you $2,000 or more depending on individual bank.

All the best!

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Hope the above answers your main concerns, but if there are more queries, please feel free to contact me at 90110636  , or email: ling.ck7@gmail.com if more information is needed.
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Ling CK
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Hi

For SPR, minimum 5% cash outlay needed as you can only take bank loan. This is excluding the COV required, which is another cash component.

Hope the above clarifies. I am well-versed with HDB and private property transactions, having helped more than 100 homeowners transit smoothly with their housing plans. Please reach out to me at 97432395  for a more in-depth discussion :)

May I have more info on your requirements so as to make better recommendations? Thanks and looking forward to chat more

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I would be glad to assist you.
Feel free to contact me at wa.me/6597100155
Hope to hear from you soon.
Pei Mobile: (65) 9 7 1 0 0 1 5 5.
Email: peicheng.tan@propnex.com
Associate Group Director
Propnex Realty Pte Ltd Read More

5% of the component must be in cash. You are unable to use full CPF for the downpayment. CPF can be use for your stamp duties.

——

I have been in the real estate business since 2009, with more than 15 years of experience serving the Singapore real estate market.

I am very active in the residential segment of Singapore real estate market, having transacted hundreds of deals from HDBs to private condominiums and landed properties in Singapore, and have handled many unique cases in sales and purchases as well as rental deals.

Over the years, I have also established a network reaching out to more than 15,900 expatriates, bringing my market presence to both in and outside of Singapore. This has created an additional exposure when I manage my client's portfolios, on top of the conventional on and offline platforms, where other estate agents are relying on. This has allowed me to consistently convert leads into results.

With an evolving market, where change is the only constant, I have also been investing in upgrading of my knowledge and skills sets to improve myself and meet the demands of current and future market.

We are offering our clients a complimentary first consultation without obligations (Absolutely FREE!). Schedule for your FREE session today!

Warmest regards,
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My self introductory video on https://www.youtube.com/watch?v=S_2NydENfx0

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Hi, appreciate your sharing
Looking forward to assist you at 9696 4398  or email me at stewartlim96964398@gmail.com

Cheers
Stewart-PropNex (Senior Associate Division Director) Read More